Market Overview

Alleghany To Buy Transatlantic Holdings For $3.4B

Alleghany Corp (NYSE: Y) announced its plans to buy Transatlantic Holdings Inc (NYSE: TRH) for $3.4 billion in cash and stock.

Alleghany will offer $59.79 per share to Transatlantic shareholders, representing a premium of about 10% over Transatlantic's Friday close of $54.43.

TRH shares gained 1.19% to clsoe at $54.43 on Friday, while Alleghany shares gained 0.57% to clsoe at $314.26 on Friday.

Posted-In: merger and acquisitionNews M&A

 

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